Construction and infrastructure services firm Kier has has agreed to acquire substantially all the rail assets of Buckingham Group, which has gone into administration.
It will become part of the Kier Transportation business, which designs, builds and maintains infrastructure for the highways, rail, aviation, and ports sectors.
The acquisition strengthens Kier’s position in the UK rail market, with projects spanning the country.
Andrew Davies, chief executive at Kier Group, said: “We have previously stated that we would consider value accretive acquisitions in core markets where there is potential to accelerate the medium-term value creation plan.
“This acquisition is one such example – it is an excellent strategic fit and accelerates our rail strategy, providing work with new rail clients and increasing our capabilities. I am delighted to welcome our new employees, clients and suppliers to Kier.”
Joe Incutti, group managing director at Kier Transportation, added: “The Buckingham Group rail business had built a very strong reputation for assured delivery in the rail sector. I am pleased that we now welcome 180 new colleagues into Kier Transportation.
“The team will further strengthen our capability and this helps to bring an end to a period of uncertainty for former Buckingham Group clients and employees by ensuring continued delivery on existing projects, and the retention of hugely important skills and expertise in the rail sector.”
Image credit: Keir
